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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- The University of Queensland
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
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